Is it time to purchase your first home? Owning your own home may offer many advantages including building equity, qualifying for tax deductions, and having a place to call your own. It also requires a level of financial and emotional readiness. Evaluating your position in each of the following categories can help guide you as you make this important decision.
Purchasing a home is a big financial decision. In addition to making mortgage payments you also have to factor in additional costs such as taxes, homeowner’s insurance, homeowner’s association fees, city assessments, and household repairs. Mortgage companies use a debt to income ratio (DTI) to determine loan eligibility.
According to Forbes, multi-generational living is on the rise and an estimated 60.6 million Americans are currently living in a multi-generational household. In Canada, recent census studies show households of three or more generations all living under one roof represent the fastest-growing household type. There are many economical and familial advantages to multi-generational living. It is important, however, to find a home that is well-suited for every member of the household. Keep these important considerations in mind when buying a multi-generational home. Continue reading
Although buying or selling a home can bring about exciting changes for you and your family, it can introduce stress for your four legged loved ones. As a seller, having strangers coming in and out of your house can be alarming and upsetting to your pets. As a homebuyer, you want your new home to be safe and comfortable for every member of your family – even the furry ones. Whether you’re buying your first home or getting ready to put your house on the market, these pet safety tips for homebuyers and sellers will help make the process easier on you and your pets. Continue reading
During the home buying process, you’ll be working with a range of professionals, including a real estate agent, loan officer, home inspector, appraiser, and a lawyer or representative from a title company. And while you may need to divulge some very personal information, like your annual income and debt history, not all of these people need to know the intricate details of your life.
According to a Google Consumer survey, 50% of prospective home buyers start searching between six and 12 months in advance. Because purchasing a home is the largest lifetime financial investment for many, if not most consumers, it comes as no surprise that a wealth of research usually comes before deciding on a home.